If the bubbles contain a misconception, as they always do, then it can't be maintained forever. George Soros More Quotes by George Soros More Quotes From George Soros Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago. George Soros marijuana matter years As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system. George Soros investing financial fall I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful - but also very harmful to our society. George Soros government successful thinking China could easily emerge as the great winner if the Chinese leaders handle the situation well. On the other hand, they could also turn out to be the biggest losers if they handle it poorly. If the management turns out be wrong, this could lead to a political crisis in China. George Soros political leader hands As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process. George Soros moral political needs The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike. George Soros creating agency risk The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby's ability to influence political contributions. George Soros political israel successful Of course, speculation will always make a crisis worse. If there is a weak point, it will expose it. George Soros weak-points crisis speculation To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states. George Soros government mind people I chose America as my home because I value freedom and democracy, civil liberties and an open society. George Soros freedom home america I rely a great deal on animal instincts. George Soros deals instinct animal You need a government that believes in government. It also believes in markets and wants to give markets the best, the greatest opportunity, but is trying to govern well. George Soros government opportunity believe I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs. George Soros merit needs thinking Just as the process of repealing national alcohol prohibition began with individual states repealing their own prohibition laws, so individual states must now take the initiative with respect to repealing marijuana prohibition laws. George Soros marijuana alcohol law An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth. George Soros divergent views people I would be lying, however, if I claimed that I could always formulate worthwhile hypotheses on the basis of my theoretical framework. Sometimes there were no reflexive processes to be found; sometimes I failed to find them; and, what was the most painful of all, sometimes I got them wrong. One way or another, I often invested without a worthwhile hypothesis and my activities were not very different from a random walk. George Soros different would-be lying Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd. George Soros government giving profound Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail. George Soros investing principles self Sometimes time actually works against you if you refuse to face the relevant issues and explain to the public what is at stake. George Soros issues faces sometimes We can speak of the triumph of capitalism in the world, but we cannot yet speak about the triumph of democracy. There is a serious mismatch between the political and the economic conditions that prevail in the world today. George Soros triumph democracy political
